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    U.S. Bank to Open Branch Locations in Safeway and Vons Stores

    PLEASANTON, Calif. -- U.S. Bancorp's national bank subsidiary, U.S. Bank, has entered into a definitive agreement to expand its relationship with the supermarket retailer Safeway, Inc. by opening 163 new full-service in-store banking locations during the next two years in California, Arizona, and Nevada stores.

    PLEASANTON, Calif. -- U.S. Bancorp's national bank subsidiary, U.S. Bank, has entered into a definitive agreement to expand its relationship with the supermarket retailer Safeway, Inc. by opening 163 new full-service in-store banking locations during the next two years in California, Arizona, and Nevada stores.

    This will be the largest in-store expansion and partnership venture in U.S. Bancorp's 140-year history. U.S. Bank is the third-largest in-store branch-banking network in the United States and will have a total of 446 in-store branches in 19 states once the Safeway/Vons expansion is completed. (Vons is a division of Safeway, Inc.)

    "Our partnership with Safeway, Inc. is a great way to reach out to busy people who like the convenience of one-stop shopping," said Richard Davis, vice chairman of commercial and consumer banking for U.S. Bancorp. "It is the goal of U.S. Bank and Safeway, Inc. to give customers the highest levels of convenience and service. We feel very fortunate to have such an outstanding partner as Safeway in this venture in California, Arizona, and Nevada. For 140 years U.S. Bank has placed a major emphasis on service, quality, and personal attention to its customers. These are traits we admire and values that are shared by Safeway and Vons, which also incorporate customer-driven strategies into their day-to-day operations."

    The new 163 U.S. Bank in-store branches are scheduled to begin opening inside Safeway and Vons stores in the fall of 2003. U.S. Bank will open 119 of the total 163 in-store branches inside Safeway locations in Sacramento, the greater San Francisco Bay area, Phoenix, and Tucson. U.S. Bank will open the remaining 44 new in-store locations inside Vons stores in the Los Angeles/Orange/Riverside county region, San Diego, and Las Vegas. Currently, U.S. Bank has branches in all of these markets except for Tucson, where this will be U.S. Bank's introduction to that city.

    "We are constantly looking for ways to give our customers added value and convenience," remarked Donald Kingsborough, president of Safeway marketing services. "This partnership with U.S. Bank will further accommodate the needs of our soon-to-be shared customers. We are delighted that our customers will now be able to efficiently and quickly do their shopping and banking all in one high-quality location. U.S. Bank is a strong partner and has an outstanding record of being committed to quality customer service."

    The new U.S. Bank locations inside Safeway and Vons stores will offer a full range of services and will be open seven days a week. In addition to opening checking accounts, customers can conveniently transact business on savings, CDs, IRAs, and other investment opportunities, or get a loan for a car, mortgage, boat, home improvement, or debt consolidation. Each location will also have a full-service ATM.

    U.S. Bank is home of the exclusive Five Star Service Guarantee, which assures customers of certain key banking benefits. If for any reason U.S. Bank fails to deliver on its guarantee it will pay the customer, in addition to making the situation right.

    U.S. Bank currently has locations inside six Safeway stores in the Seattle, Wash. market.

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